Auto Production In China To Rebound
While vehicle and component production has slowed to a trickle in Europe because of the corona virus outbreak, Daimler, Volvo and suppliers say their factories in China are coming back online. Daimler has reopened its factory in China, where demand for vehicles is…
Polestar 2 Production To Officially Begin In China, Deliveries Starting Summer 2020
Despite the world economy being thrown in a standstill and many automakers closing down their production facilities for the time being, Polestar will start production of its Polestar 2 electric car this week. Production will take place in Luqioao, China in…
Tesla’s Car Registrations In China Fell 35% M-o-M in February
U.S. electric vehicle maker Tesla Inc’s China car registrations fell 35% in February, month on month, data from auto consultancy LMC Automotive showed. Overall auto sales in China plunged 79.1% in February, marking their biggest ever monthly decline, as a…
Tencent Backed Electric Car Startup-NIO Says It Might Not Survive Covid-19
Cash-strapped Chinese electric vehicle maker NIO said it had substantial doubt about its ability to remain operational in the next 12 months while awaiting new funding to shake off difficulties heightened by the novel coronavirus pandemic. “Based on the management’s assessment,…
Ideanomics MEG Announces Order Of Approximately $575 Million USD From Beijing Silk Road Rainbow Car Rental
Ideanomics has announced a new vehicle order through its MEG subsidiary from rental and leasing services company Beijing Silk Road Rainbow Car Rental Group Co., Ltd., the leading bus operator in Northern China for several major metro markets, including Beijing. The order is…
ABB Acquires Majority Stake In Chinese EV Charging Provider- Chargedot
ABB has completed its acquisition of a majority stake in Chargedot Shanghai New Energy Technology Co., Ltd. The deal was announced on October 28, 2019. The company supplies AC and DC charging stations, as well as the necessary software platform…
Tesla Apologized Profusely For The Fuss, Claiming Coronavirus Delayed The Availability Of The Latest Chip
Tesla stirred up a hornet’s nest in China by promising customers their Model 3 cars built in Shanghai would come with the company’s version 3 self-driving computer chip but then delivering cars that have only the last-generation version 2.5 chip…
Nio, The Tesla Of China, Surges After Reporting Strong Vehicle Deliveries For Q3 (NIO)
Nio, known as the Tesla of China, is gaining after reporting solid vehicle delivery numbers for the third quarter. Shares of the electric vehicle maker surged as much as 11.33% in early trading on Tuesday after the company reported that…
Asia’s Former Richest Man Faces Debt Crunch While Chasing Electric Car Dream
Real estate tycoon Hui Ka Yan is pushing ahead with his ambitious plan to become the Elon Musk of China by ploughing billions of dollars into electric vehicles, but the venture looks increasingly risky as funding becomes scarce and China’s slowing economy…
Chinese Electric-Car Maker Nio Is Fighting For Its Survival
Nio on Tuesday said it needed to raise $200 million from chief executive William Li and the Chinese gaming giant Tecent, one of its largest shareholders, after it burned through cash at a faster rate in the second quarter. The company…
